BUYERS AND SELLERS TO BENEFIT FROM NMB BANK PLC TRADE FINANCE PRODUCTS "Credit News 24"
Dar es Salaam, 19 July 2017 - NMB’s initiative to re-emphasize the importance of Trade Finance products is expected to boost local and international trade within the business community in Tanzania.
The bank’s Trade Finance products target both existing and potential customers across all the segments, from MSEs to corporate customers who require trade finance solutions to support their business. Trade Finance is essential for local and international trade. This financial intermediation will help NMB customers manage risks inherent in international transactions, improve their liquidity and enable them to optimally invest to enhance their growth.
Speaking at the Launch, NMB Managing Director, Ineke Bussemaker, said the bank is well placed in the market to support its customers with comprehensive Trade Finance products to support their business. “With the country’s target of industrialization, it is important for NMB as a leading bank to increasingly support the market through Trade Finance. This is the key towards achieving the industrialization target of the country,” said Ms Ineke.
Ms Bussemaker further said, “NMB serves a diversified customer base according to their needs. We therefore offer the full range of Trade Finance products to our customers”. The objective of the NMB Trade Finance campaign is to unveil NMB’s strength and capability in Trade Finance, raising awareness and understanding of Trade Finance products and solutions as well as encouraging customers to use them for financing and risk mitigation in their day to day business.
NMB Trade Finance offers working capital (Pre and Export Financing, Inventory Financing, Post Import Financing and Supplier and Distributor's Financing), products which mitigate trade risk (Letters of Credit, Documentary Collection and Import Bills Confirmation to suppliers) and Bank Guarantees (Bid Guarantee, Performance Guarantee, Advance Payment Guarantee and Payment Guarantee).
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